The world is going through a period of political and economic reorganization. The transition from government-controlled to market-driven economies is not an easy one. Nonetheless, the prospect for prosperity has never been greater. You can no more stop the wave (the information-driven global revolution) than you can stop waves on the ocean. You can set up barriers, but the waves will beat them down over time.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Not all consumers are likely to buy all products. Al though a firm must consider all prospective buyers, it must focus its efforts on its target market—the specific group of buyers it intends to reach. Thus not in the target market are less likely prospects, and so efforts to reach them are generally not worth the expense.

The target markets are composed of ultimate consumers—the individuals, households, or families who buy for their personal needs. In contrast buyers in purchasing departments represent other target markets—organizations like business firms, government agencies, and educational institutions. These groups are often called organizational buyers.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

What about the manager who purports to believe the only way to get information from subordinates is by meeting? This manager may be seeking ego satisfaction. Meetings are not for holding court. It may be a pleasant way to get reports, but it is far from efficient. Any career-minded individual caught in such a situation needs to seriously consider his or her position and prospects.

Evaluate your meeting schedule. If a memo will serve, write a memo. If an informal conversation will work, converse. If a meeting is the only, or best, solution, hold a meeting, but make sure it is a good one.

Avoid being caught in the meeting cycle. Help stamp out meeting mania. Don’t be part of the problem.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Many businesses have no long-term aspiration; they quite simply want to achieve something and then move on. This applies at times to both task-oriented commercial and non-commercial organizations.

Many individuals tasked with running an organization have little or no social interest in the long-term failure of it and limit their interest to the time that they will be responsible for (and indeed benefit from) the organization’s success. This can happen regardless of the aspirations of the organization’s stakeholders.

Some markets are so changeable that any detailed investment and planning for the future proves largely futile.

There are times when too great a concern for the future will detract attention from short-term priorities and damage an organization’s current prospects, which will in turn damage long-term prospects as well.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Is the market large enough? Does the product or service have broad appeal?

Are there specific smaller segments of your list that have a strong desire for your product or service?

Is it new? Will your customers perceive it as being new?

Can it be photographed or illustrated interestingly?

Are there sufficient unusual selling features to make your copy sizzle?

Is it economical to ship? Is it fragile? Old shaped? Heavy? Bulky?

Can it be personalized?

Are there any legal problems to overcome?

Is it safe to use?

Is the supplier reputable?

Will backup merchandise be available for fast shipment on reorders?

Might returns be too huge?

Will refurbishing of returned merchandise be practical?

Is it, or can it be, packaged attractively?

Are usage instructions clear?

How does it compare to competitive products or services?

Will it have exclusivity?

Will it lend itself to repeat business?

Is it consumable, so that there will be repeat orders?

Is it faddish? Too short-lived?

Is it too seasonal for direct mail selling?

Can an add-on to the product make it more distinctive and salable?

Will the number of stock keeping units – various sizes and colors – create problems?

Does it lend itself to multiple pricing?

Is it too readily available in stores?

Is it like an old, hot item, so that its success is guaranteed?

Is it doomed because similar items have failed?

Does your mother, wife, brother, husband, sister, or kid like it?

Is direct mail the way to go with it?

Does it fill an unfilled niche in the marketplace?

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Among the many new forms of marketing is telephone marketing, which is now practiced by more and more companies – and by entrepreneurs.

Currently there are three ways you can engage in telephone marketing. The first way is individual phone calls made by you or a member of your company. The second way is mass telephone marketing, which is carried out by firms specializing in it and is directed at thousands of potential customers at a time. The third way is by computer. Computerized calling machines actually call prospects, deliver tape-recorded sales pitches, and even pause during their messages so that prospects can answer questions and place orders. This method may be a bit impartial, and many consider it an invasion of privacy, but it is commonly practiced. And for many a company, it works.

A telephone calls takes less time than a canvass, is more personal than a letter, costs less than both (unless it’s long distance), and provides you with fairly close personal contact with your prospect. It is hardest to say no to a person’s face. It is less hard to say no to a person’s voice. And it is least hard to say no to a person’s letter.

As with advertising, telephone marketing should be part of an overall marketing program. And it should be continuing effort. One phone call isn’t enough. If a member of your company makes the phone calls, certain incentive policies should be instituted.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

For all customers or prospect records the following basic attributes will lay a solid foundation for numerous segmentations:

Category code: A four-digit code is usually a sufficiently descriptive definition your market is concentrated in several Standard Industry Codes, then going to the six or eight digit level may be appropriate. Remember the SIC is currently undergoing revision, so be flexible with this field.

Company size: There are two choices – sales volume or employee size. It is probably best to use employee size, as it is more easily obtained and more accurate than company revenue. Record employee numbers by site so that they can be rolled up to the corporate level.

Site Type and Linkage: There are some standard definitions here such as branch, division and corporate headquarters. It is important that you take time to develop a site definition that fits your business as this might include plant, research center, etc. secondly, link the sites to a corporate structure, so that a roll-up to the enterprise level can be carried out to look at the customer picture.

Financial year: For those selling situations that involve the customer needing to budget for your product or service, the knowledge of the fiscal year becomes critical, as this will drive the buying process and therefore your selling cycle. Most companies are on a calendar/fiscal year, but about 20 percent are on a different fiscal year basis. In the consumer market this might also be relevant – for example in acquiring expensive items.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.